Weekly Price Update Report - Week 1, 2018

NBP Natural Gas & GB Power Market Movement

This market report covers working days last week which fell on Wednesday 27th December to Friday 29th December 2017. Prices fell on the 27th with various UKCS outages coming to an end. Partial flows had also restarted at the Forties pipeline which carries a third of the UK's offshore gas production.

The original timeline for a restart was the beginning of January which was brought forward to around Christmas day and provided bearishness across the price curve. However, on the 28th the market recouped some of the losses seen on the previous working day with temperatures expected to return to seasonal norm levels. The benchmark Brent crude contract rose alongside bolstering longer dated pricing. By Friday prices settled the week higher when compared to the previous Friday (22nd) with the April-18 annual electricity and gas products closing higher by 0.23% and 0.18% respectively.

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